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How to Engage a NEW Property Manager

Choosing a managing agent

We have extensive property management experience, and can provide a comprehensive list of the services with a schedule of our fees or costs.

It is most important that you confirm your managing agent is a member of The Real Estate Institute of Victoria (REIV).

For more information, visit the REIV website.

Contracts - exclusive leasing and/or managing authority

The ‘exclusive leasing and/or managing authority’ (otherwise known as ‘the authority’) is a binding contract signed between you and us the agent. In signing it, you are giving us the agent exclusive rights to find a tenant and authority to manage your rental property.

Services provided

We will find a suitable tenant and collect the rent; any further terms should be specified in the authority (contract).

It is common for an agent to attach an ‘instruction form’, which will also be considered part of the agreement.

We will notify you of any damage to the property, or of unpaid rent. Our property inspections are carried out in accordance with legislative requirements assuring your property is well maintained.

For more information about rent, view our Rent and other payments section.

Fees and charges

All fees and expenses are negotiable (except any fixed by statute) and must be recorded on the authority (contract), including any GST liabilities.

Letting (or leasing) fee

Generally, this is the initial set-up cost for vetting and placing a tenant. It is negotiable and usually charged at the beginning of each tenancy agreement. We also charge a re-leasing fee if current tenants sign a new tenancy agreement.

Management fee

This ongoing fee is deducted from the rent each time it is paid. If this fee is calculated as a percentage, we ensure it is also displayed as a dollar amount on the authority (contract).

Marketing expenses

These costs may be incurred when we the agent advertises your rental property. Costs will vary depending on the advertising methods you choose.

Other expenses

Examples of other expenses include statement fees, administrative and/or postage costs, Tribunal appearances and warrant of possession.

Rates, utilities, insurance, and owners corporation fees

With your written authority, we the agent can arrange for municipal rates notices to be re-directed to their office and paid from the rent. We will also organise utilities charges such as water, gas and electricity to be deducted.

Other costs that we the agent may deduct from the rent on your behalf include insurance, owners corporation fees or special levy costs associated with ownership of a flat, unit or apartment.

You should also take out landlord insurance, which will help to insure you against a defaulting tenant or damage caused by the tenant. Shop around for the most suitable policy.

Receiving rent

Rent should be forwarded to you within a reasonable time. How long this is depends on the timeliness of the tenant’s payments and the regularity with which we the agent disburses payments from our trust account.

We disburse payment to our Landlords twice a week as part of ourservice to you.

For more information on rent, view our Rent and other payments section.

Repairs and maintenance

As a landlord, you may authorise your agent to arrange for urgent repairs up to a specified amount. Your authority should be written into the contract.

You must give the tenant a written statement that explains whether or not the agent can arrange urgent repairs. If the agent is authorised to arrange urgent repairs, you should also state the maximum amount the agent is authorised to spend.

You (or your agent) must also give the tenant the agent’s phone or fax number, so the tenant can contact the agent if they need an urgent repair.

If you do not authorise the agent to arrange repairs, then you must give the tenant your contact details.

For more information on repairs, view our Repairs, maintenance and changes to the property section.